Australian billionaire James Packer backs investment push into OnlyFans minority stake acquisition

08 May 2026 , 23:46

772 0

Australian billionaire James Packer is among the investors backing Architect Capital’s deal to acquire a minority stake in OnlyFans, the streaming platform used by sex workers, whose owner passed away in March.

OnlyFans has agreed to sell about 15 percent of its equity to San Francisco-based Architect Capital, valuing the platform at $3.1 billion, according to sources familiar with the matter. The FT initially reported on this stake sale last month, and it is anticipated to be announced as early as Friday.

The decision to sell a small stake in the UK-based company will still leave control with the family trust managed by Katie Chudnovsky, the widow of OnlyFans owner Leonid Radvinsky. The late Ukrainian-American entrepreneur acquired Fenix International, the parent company of OnlyFans, in 2018.

Architect’s proposal is backed by a special-purpose vehicle funded by a group of investors, including family offices, according to sources familiar with the deal.

Backers include funds linked to Packer, known in Australia as a former casino and media mogul, as well as Sam Lessin, a partner at venture capital firm Slow Ventures, according to these sources.

With an estimated net worth of nearly A$5 billion ($3.6 billion) according to the Australian Financial Review’s Rich List, Packer is one of Australia’s wealthiest individuals, following the sale of his family’s media assets and his significant stake in gambling empire Crown Resorts to the private equity group Blackstone.

The final details of the deal are still being worked out, and the transaction was nearing completion late on Thursday, the sources said.

The initial small stake deal in OnlyFans—which has gained notoriety due to its use by sex workers, celebrities, and sports stars to engage with their audiences—leaves room for the acquisition of a larger equity stake in the future.

The stake sale under discussion follows years of sporadic attempts to secure external investment in OnlyFans, which in recent months were overshadowed by Radvinsky’s battle with cancer.

At one point, the group was in talks to sell a majority of the business, which would have resulted in a significantly higher valuation, according to sources familiar with the process.

The arrangement will also see OnlyFans looking to develop new financial services in collaboration with Architect for its creators, who often face challenges accessing conventional banking services, according to one source familiar with the matter.

This could involve partnering with a bank or developing its own services, the source added, highlighting Architect’s experience in the financial services sector as an opportunity to enhance OnlyFans’ revenues.

San Francisco-based Architect was established in 2020 to offer asset-backed lending to tech companies.

Packer and OnlyFans declined to comment. Architect and Lessin did not immediately respond to requests for comment.

Packer, the son of media tycoon Kerry Packer, is an active investor in the technology sector and has bought and sold shares in companies including Nvidia, Meta, Amazon, and Taiwan’s Taiwan Semiconductor Manufacturing Company in recent years.

His investments, made through his Consolidated Press International Holdings vehicle, have also included gambling companies such as the sports betting group Flutter—since sold—and Australia-listed poker machine manufacturer Light & Wonder, as well as energy stocks.

Lessin was an early employee at Facebook and has since gained recognition as a seed-stage investor, including being one of the earliest investors in the payment app Venmo.